Long Beach Island Real Estate Waterfront Home Transactions December 2019
2019 LBI Real Estate Waterfront Update 
2019 LBI Real Estate Waterfront Update 
2019 LBI Real Estate Waterfront Update
Long Beach Island Real Estate
The past six months have shown some exciting activity in the waterfront home market on Long Beach Island. 2019 was a good year overall for home sales in the LBI real estate market, and the waterfront market was no exception. As expected, the average sales price of a single-family home was over $1,000,000 in all three waterfront categories. It should be mentioned, however, that there are condominiums in many of these locations that trade far under the $1,000,000 price point. While activity was mostly in line with past trends, there were a few surprises! Below is a breakdown of oceanfront, bayfront, and lagoon front home sales over the past six months.
- There were 18 sold oceanfront homes with an average price of $2,980,344
- There were 16 sold bayfront homes with an average price of $1,739,509
- There were 21 sold lagoon front homes with an average price of $1,218,240
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Waterfront Update December 2019
One of the most interesting surprises in the analysis of recent waterfront sales on Long Beach Island was that lagoon front homes registered the most closed transactions. This could partly be explained by the price, which was by far the lowest between oceanfront homes, bayfront homes, and the lagoon front homes. Lagoon front homes also took the longest time to sell (159 days) compared to 146 on the oceanfront and 127 on the bayfront. The average price per sq. foot was $836 on the oceanfront, by far the highest, with $603 on the bayfront and $525 for a lagoon front home.
Waterfront Homes in the Long Beach Island Real Estate Market
Waterfront homes in the Long Beach Island real estate market are some of the most sought after. They also come with a high price tag! If you are looking to invest in the waterfront market, you must understand the nuances of the unique market. For example, the condition of a bulkhead can significantly impact the value of a bayfront or lagoon front home. CAFRA approvals, or the potential to expand on a CAFRA footprint, can swing the cost of an oceanfront home by more than $1,000,000! These subtle yet significant points have to be understood before attempting any purchase in the LBI real estate market. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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